Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[LFC_Bitcoin]

Whales pushing hard now, this is going under $6000 in the next hour

Indeed whales have low targets, that may be supported by some "news".
Whales targets will be met.

I'm looking forward to when the bottom finally comes in (which could be in the very distant future)

Anybody with under a couple of thousand bitcoin has no idea what will happen. We can guess but we have no power or control over what will happen.

I’m not cashing out until at least mid 2021 (a long enough time after the next halving for the price to go up a lot). I can sit & watch this unfold without too much worry, my cold storage stash is enough to ‘hopefully’ make me very comfortable financially by mid 2021 but like I said above - no control or real idea what & when the market will make significant moves.

[moneyForjam]

What a sad state of affairs

It's perfectly normal. Anyone shocked by this has not read their history.

The last epic crash was caused by the Gox ‘hack’.
In my opinion a crash of this % wasn’t expected, there’s nothing overly negative driving it. I don’t understand why people are selling now.

Yes, I agree with you... I don't understand.

Understand this. The market is manipulated. The manipulators will have targets. Eventually the manipulators targets will be higher than the then current price (the manipulators will turn bullish) . Then the price will rise. simple?

[wh1rlw1nd]

if there is a correllation between CME and CBOE bitcoin futures (and i think there is), then the price is dumping due to expiration date of xbt futures (short ones).
but i don't know much about this XBT thing, some say there are 6-month futures, some say the opposite. if the 6-months are true, then the expiration date is june 29. So the plot was go short from dec15 (max price) til june29 (lowest). it's just spinnig aroud, may be it's true, maybe not.... cheers  

[Toxic2040]

Bitcoin shits the bed again. Capitulation confirmed.
Market should be quite volatile as people try and exit positions. #dyor

1h
Shorts going vertical


D
default cloud settings


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20,60,120,60 cloud settings


*edit*  Game over Doug. Sorry bro..tried like hell.

[Dabs]

You know, as a business, you can accept zero confirmation transactions from both BTC and BCash.

For BTC = just wait 10 seconds. Even a cup of coffee can wait 10 seconds. It's zero confirmation, but you can almost safely accept the transaction if there are no double spend attempts after 10 seconds.

For BCash = just wait about 10 seconds also. Maybe 20 if you want to make sure. After a confirmation, send it to an exchange and market sell.

For anything else that costs more than a cup of coffee, I'm sure you can wait 10 minutes for a block; and if the transaction hasn't confirmed yet, it should in a few.

Not quite.
Imagine you're i na store buying for 150€ of clothes. Wouldn't it upset you to wait like 15 or 20 minutes for a block? xD
You see yourself waiting near the exit that the block passes?
And if it take 4 blocks nearly an hour spent waiting?

That's completely crazy ^^

Most merchants use a payment processor like BitPay, or even an open source one. Those things can be configured to accept zero conf, or use some sort of in store credit system.

Some stores will ask you for info; if you or your wallet does a double spend they can run after you.

You know, as a business, you can accept zero confirmation transactions from both BTC and BCash.

For BTC = just wait 10 seconds. Even a cup of coffee can wait 10 seconds. It's zero confirmation, but you can almost safely accept the transaction if there are no double spend attempts after 10 seconds.

For BCash = just wait about 10 seconds also. Maybe 20 if you want to make sure. After a confirmation, send it to an exchange and market sell.

For anything else that costs more than a cup of coffee, I'm sure you can wait 10 minutes for a block; and if the transaction hasn't confirmed yet, it should in a few.

Not any longer. BTC broke that model with the introduction of RBF.

It still works. RBF in the Core client can only be used to increase the transaction fee of the transaction, which is a good thing eh?


And I know this is old news, but even pirates won't accept BCH.

[Ibian]

What a sad state of affairs

It's perfectly normal. Anyone shocked by this has not read their history.

The last epic crash was caused by the Gox ‘hack’.
In my opinion a crash of this % wasn’t expected, there’s nothing overly negative driving it. I don’t understand why people are selling now.

Come on, this is just the usual shit. Too many weak hands left. This pattern will repeat endlessly over the coming decades, best get used to it.

[infofront]

I just wired some money to Kraken. How long does that usually take, for a domestic wire transfer?
This will be my largest purchase since 2015. Hopefully there's more blood soon.

[yefi]

Well, silver lining, at least I don't have to worry about jello now.  ¯\_(ツ)_/¯

[infofront]

Well, silver lining, at least I don't have to worry about jello now.  ¯\_(ツ)_/¯

I was kind of looking forward to that 

[JayJuanGee]

Was looking like $6000 would hold.

Whales pushing hard now, this is going under $6000 in the next hour

Looks like Doug Polk just lost his bet a few minutes ago.    

[Realerre]

Ok, now i start to be scared. Weak hands are pleased to be shaken fast, I am really getting pissed now!

[JayJuanGee]

Oh Shit, dat store of value ... More like toilet flush of value.

Store of value is not based on short term price fluctuations.  You seem to be perverting the concept of short of value.  For what purpose?  To sound dumb?   

[infofront]

Was looking like $6000 would hold.

Whales pushing hard now, this is going under $6000 in the next hour

Looks like Doug Polk just lost his bet a few minutes ago.    

Confirmed. Below $6,000 on the 5 largest exchanges. The other ones are soon to follow.

I can't believe how fast this happened (OK, yes I can). We were sitting pretty around $6,700-$6,800 just hours ago.

[JayJuanGee]

I just wired some money to Kraken. How long does that usually take, for a domestic wire transfer?
This will be my largest purchase since 2015. Hopefully there's more blood soon.

I never wired money to Kraken or any other exchange - however, in 2016, 2017, I received several wires from my Gemini account to my USA domestic bank account, and during regular business hours, those wires tended to take anywhere between 1 hour and 4 hours to go through.  The process and the timeline should be similar for sending to Kraken?

[JayJuanGee]

Well, silver lining, at least I don't have to worry about jello now.  ¯\_(ツ)_/¯

I was kind of looking forward to that 

might have been embarrassing for modest peeps.   

[JayJuanGee]

Was looking like $6000 would hold.

Whales pushing hard now, this is going under $6000 in the next hour

Looks like Doug Polk just lost his bet a few minutes ago.    

Confirmed. Below $6,000 on the 5 largest exchanges. The other ones are soon to follow.

I can't believe how fast this happened (OK, yes I can). We were sitting pretty around $6,700-$6,800 just hours ago.

Maybe I did not understand the measurement to be 5 major exchanges?  Not that it really matters, now.

Was there a specification of what counted as "major exchange"(s)?   

I already saw below $6k having had happened on almost every dollar/BTC paired exchange (Except WEX, which is not really no longer major) (though currently back above $6k) including GDAX, Stamp, Gemini, Bitfinex and Binance.

[bones261]

I'm probably going to absolutely hate what my bot did while I was at work. Something tells me that this minnow just got eaten whole. Unfortunately, don't have the PW to the bot site. Stored in a PW manager at home.

[bitmover]

I just wired some money to Kraken. How long does that usually take, for a domestic wire transfer?
This will be my largest purchase since 2015. Hopefully there's more blood soon.

I feel good to see this kind of optimism here. I have some fiat ready in a exchange just waiting for the bloodbath too.

Wall observer could save a lot of newbies and weak hands if they could find it.

[aaroque2003]

...

I was hoping $ 6001.00 at least... pray god my orders get fills.. 

Me trying to understand fools:

Me trying to understand IDIOTS....

$6,043.78 USD (-10.24%)

Come to papi baby.... !!!!

[HairyMaclairy]

I stopped buying above $6k a few months ago.  

Looks like I am going to get a chance to re-enter accumulation phase.  

I’m stoked.  Sending first round of fiat to exchange now.  I’m aiming for the next halvening at this point.